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Wellington’s average asking price goes up again

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News from Realestate.co.nz
August was a month of record highs and record lows since realestate.co.nz started collecting data more than 11 years ago, says realestate.co.nz spokesperson Vanessa Taylor.

Real-time statistics from realestate.co.nz show nearly two thirds (11) of the country’s 19 regions hit record high average asking prices in August, while half of the regions (9) registered all-time lows in the number of houses listed for sale.

“Added into the mix is a healthy number of unique browsers in August to realestate.co.nz, which hints at an early spring lift in housing activity,” says Vanessa. In August, 911,012 unique browsers visited the site, which is a 5.2 per cent increase on July and consistent with summertime browsing levels, she says. “We’ve had a relatively static housing market since the election period and this lift in interest coincides with a healthy injection of new listings in two of the country’s largest regions.

Of the 8,739 new property listings across the country during August, almost half (4,343) were in the Auckland or Canterbury regions.

Record increases in asking prices highs in 11 regions

The increase in property asking prices was led by the Central Otago/Lakes District which tipped over the one-million-dollar milestone, with the average asking price sitting at $1,019,094. *

“This is the first region to ever reach the one-million-dollar asking price milestone in the 11 years of data collection history on realestate.co.nz,” says Vanessa. “Whether Central Otago-Lakes continues to outstrip Auckland as the most expensive region in terms of asking prices remains to be seen,” says Vanessa. “It’s a smaller market and if there are a significant number of top-end properties coming onto the market at the same time, it can impact the average asking prices.

“Auckland is larger, with a more diverse range of properties, so it’s not always comparing apples with apples,” she says.

While Central Otago-Lakes led the charge with a significant lift in asking prices, there were 10 other regions which recorded record highs in asking prices last month. These regions registered more modest gains and were equally balanced across the North and South Islands.

Wellington registered a 1.7 per cent increase in asking price to $639,553, Northland registered a 1.8 per cent increase in asking price to $635,112, Central North Island was up 4.5 per cent to $488,420, Hawke’s Bay up 3.7 per cent to $521,138, Manawatu-Wanganui up 3.7 per cent to $370,597, and Wairarapa up 6.6 per cent to $520,127………..

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